FuboTV (NYSE:FUBO) Stock Price Up 6.2% After Analyst Upgrade

Shares of FuboTV Inc. (NYSE:FUBO - Get Free Report) were up 6.2% during trading on Tuesday after Needham & Company LLC raised their price target on the stock from $2.00 to $3.50. Needham & Company LLC currently has a buy rating on the stock. FuboTV traded as high as $2.98 and last traded at $3.02. Approximately 15,380,051 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 57,433,832 shares. The stock had previously closed at $2.84.

A number of other analysts also recently commented on FUBO. Huber Research upgraded shares of FuboTV to a "strong-buy" rating in a report on Friday, January 31st. Roth Mkm restated a "neutral" rating and set a $4.75 price target (up previously from $2.00) on shares of FuboTV in a report on Tuesday, January 7th. Finally, Wedbush restated an "outperform" rating and set a $6.40 price target on shares of FuboTV in a report on Friday, February 28th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, FuboTV has a consensus rating of "Moderate Buy" and a consensus price target of $4.39.

Insider Transactions at FuboTV

In related news, COO Alberto Horihuela sold 403,847 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $6.03, for a total transaction of $2,435,197.41. Following the completion of the transaction, the chief operating officer now owns 1,449,751 shares of the company's stock, valued at approximately $8,741,998.53. This trade represents a 21.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John Janedis sold 25,823 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $4.16, for a total transaction of $107,423.68. The disclosure for this sale can be found here. Insiders sold 1,861,426 shares of company stock worth $9,721,411 in the last 90 days. Insiders own 7.00% of the company's stock.

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Hedge Funds Weigh In On FuboTV

A number of hedge funds have recently made changes to their positions in FUBO. Vanguard Group Inc. boosted its position in FuboTV by 8.0% in the 4th quarter. Vanguard Group Inc. now owns 18,676,396 shares of the company's stock valued at $23,532,000 after buying an additional 1,377,663 shares during the period. Renaissance Technologies LLC boosted its position in FuboTV by 45.1% in the 4th quarter. Renaissance Technologies LLC now owns 4,324,700 shares of the company's stock valued at $5,449,000 after buying an additional 1,344,956 shares during the period. Barclays PLC boosted its position in FuboTV by 121.3% in the 3rd quarter. Barclays PLC now owns 1,256,459 shares of the company's stock valued at $1,784,000 after buying an additional 688,625 shares during the period. Two Sigma Investments LP boosted its position in FuboTV by 4,635.3% in the 4th quarter. Two Sigma Investments LP now owns 512,591 shares of the company's stock valued at $646,000 after buying an additional 501,766 shares during the period. Finally, Northern Trust Corp boosted its position in FuboTV by 16.9% in the 4th quarter. Northern Trust Corp now owns 2,999,809 shares of the company's stock valued at $3,780,000 after buying an additional 434,406 shares during the period. Hedge funds and other institutional investors own 39.31% of the company's stock.

FuboTV Price Performance

The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market cap of $1.07 billion, a PE ratio of -4.77 and a beta of 2.02. The company's 50-day simple moving average is $3.70 and its 200 day simple moving average is $2.32.

About FuboTV

fuboTV, Inc engages in providing subscription to sports, news, and entertainment content. It offers its services through streaming devices and on television, mobile phones, tablets, and computers. The company was founded by David Gandler, Alberto Horihuela Suarez, and Sung Ho Choi on February 20, 2009 and is headquartered in New York, NY.